All my loan years are before 2010, which thankfully means no loan charge but they're all open.
I obtained a calculation last year from HMRC to settle which was 6 figures, including a sizable chunk of interest. I haven't got enough set aside to pay it all off but I should be able to save this amount over the next year or two.
I could pay it with a payment plan but I'm reluctant to hand over any money, which I can never get back, while there's still a possibility of a better deal. I would rather hang on to the money myself and only pay it when I'm absolutely forced to.
The question is, what to do with the money over the next few years? I know someone who was in a similar position and he invested after the 2008/09 crash and nearly doubled his money meaning it virtually cost him nothing to settle.
Anyone else thinking along the same lines?
I obtained a calculation last year from HMRC to settle which was 6 figures, including a sizable chunk of interest. I haven't got enough set aside to pay it all off but I should be able to save this amount over the next year or two.
I could pay it with a payment plan but I'm reluctant to hand over any money, which I can never get back, while there's still a possibility of a better deal. I would rather hang on to the money myself and only pay it when I'm absolutely forced to.
The question is, what to do with the money over the next few years? I know someone who was in a similar position and he invested after the 2008/09 crash and nearly doubled his money meaning it virtually cost him nothing to settle.
Anyone else thinking along the same lines?
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